Questions & Answers
Removing the name from the license of a professional service company upon selling it
I had a professional service company in a partnership licensed by DED, Dubai.
There were some issues and we decided to sell the license. The sale was completed with the sale deed registered in a Dubai court in Feb 2020.
However, the new owner failed to renew the license and update the records with DED, Dubai. Therefore, I am still registered as the owner and manager of the license with the DED.
In this scenario, who is the legal owner now, and what are my options to remove my name from the license or to close it?
Hello,
As per your query, please note that as there is a sale deed and, as per the records, it is sold, so you may approach DED’S, any Tasheel branch, and update the same for the records.
As of now since the current owner has not removed the name, so you may approach the DED and other institutions like banks, SEWA to cancel your name from the same.
Kindly contact us via phone, WhatsApp, or email for further assistance.
